LONDON (ShareCast) - Europe's main markets closed largely lower, with the DAX (Xetra: news) in Frankfurt slipping below the 5,000 mark.
Air France (Paris: FR0000031122
- news) -KLM was leading the fallers in Paris after reporting a 8.1% decline in traffic in May. Fellow carrier Lufthansa (Xetra: 823212 - news) was also one of the worst performers.
Across the markets, the German DAX closed down 7 points at 4,997 with the French CAC gaining 7 points to 3,296. The Swiss market was 3 points lower at 5,388.
On the positive side, STMicroelectronics, Nokia (Xetra: 870737 - news) and Infineon (Xetra: 623100 - news) were up after US peer Texas Instruments (NYSE: TXN - news) upped its second-quarter earnings and revenue target after the close on Monday.
Energy shares were also largely higher after crude oil prices rose close to $70 a barrel in electronic trading, boosting Rapsol and Eni (Milan: ENI.MI - news) .
In other corporate news, the Swiss Finance Ministry has confirmed that it is considering the sale of its investment in UBS (Virt-X: UBSN.VX - news) .
Volkswagen (Xetra: 766400 - news) said it would welcome an investment from Qatar following press reports that the Gulf state is in talks to buy a stake in Porsche (Xetra: POR3.DE - news) , which has a 51% stake in VW.
The sale of assets by bankrupt US car maker Chrysler (Xetra: 710000 - news) to Italian car giant Fiat (Milan: F.MI - news) has been put on hold by order of the US Supreme Court.
Opponents of the deal, most notably three Indiana pension funds that own Chrysler secured loans, want the asset sale investigated more thoroughly by the Supreme Court. The pension funds argue that the terms of the asset sale are illegal, as they rank unsecured debt held by creditors such as the United Auto Workers union above secured debt.
CAC 40 (Paris: news) - Risers
Veolia Environnement (Paris: FR0000124141 - news) (VIE) € 22.19 +5.17%
Danone (Paris: FR0000120644 - news) (BN) € 34.65 +5.03%
ST Microelectronics (Paris: NL0000226223 - news) (STM) € 5.53 +4.69%
Alcatel (Paris: FR0000130007 - news) -Lucent (ALU) € 1.97 +2.66%
Credit Agricole (Paris: FR0000045072 - news) (ACA) € 10.80 +2.27%
ArcelorMittal SA (MT) € 24.03 +2.10%
Schneider Electric (Paris: FR0000121972 - news) (SU) € 53.21 +1.57%
Suez Environnement Company (SEV) € 12.88 +1.50%
AXA (CS) € 14.65 +1.31%
Unibail-Rodamco (UL) € 112.43 +1.29%
CAC 40 - Fallers
Air France-KLM (AF (Stockholm: 45674.ST - news) ) € 9.96 -4.86%
EADS (Paris: NL0000235190 - news) (EAD) € 11.41 -4.12%
Carrefour (CA) € 31.00 -3.16%
Alstom (ALO) € 44.30 -2.65%
Renault (RNO) € 28.83 -2.55%
Lagardere SCA (MMB) € 23.39 -1.95%
Bouygues (EN) € 26.57 -1.74%
Societe Generale (Paris: FR0000130809 - news) (GLE) € 42.01 -1.68%
Michelin (Paris: FR0000121261 - news) (ML) € 43.26 -1.49%
Peugeot (Paris: FR0000121501 - news) (UG) € 21.65 -1.39%
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